Adagene (NASDAQ:ADAG - Get Free Report)'s stock had its "buy" rating reaffirmed by HC Wainwright in a research report issued on Thursday,Benzinga reports. They currently have a $8.00 target price on the stock. HC Wainwright's target price points to a potential upside of 431.56% from the stock's previous close.
Separately, Morgan Stanley downgraded shares of Adagene from an "overweight" rating to an "equal weight" rating in a research report on Friday, January 31st.
Check Out Our Latest Report on ADAG
Adagene Price Performance
NASDAQ:ADAG traded down $0.04 during mid-day trading on Thursday, reaching $1.51. The company's stock had a trading volume of 849 shares, compared to its average volume of 59,980. The firm's fifty day moving average price is $1.84 and its two-hundred day moving average price is $2.11. Adagene has a 12-month low of $1.33 and a 12-month high of $3.58.
Institutional Trading of Adagene
Hedge funds have recently bought and sold shares of the company. Fifth Lane Capital LP purchased a new position in shares of Adagene in the fourth quarter worth approximately $54,000. Catalina Capital Group LLC increased its stake in shares of Adagene by 129.2% in the 4th quarter. Catalina Capital Group LLC now owns 29,198 shares of the company's stock worth $58,000 after purchasing an additional 16,461 shares in the last quarter. Kamunting Street Capital Management L.P. purchased a new stake in shares of Adagene in the 4th quarter worth $251,000. Mill Creek Capital Advisors LLC raised its stake in shares of Adagene by 119.6% in the fourth quarter. Mill Creek Capital Advisors LLC now owns 199,610 shares of the company's stock worth $397,000 after buying an additional 108,702 shares during the period. Finally, Exome Asset Management LLC raised its stake in Adagene by 74.1% during the 3rd quarter. Exome Asset Management LLC now owns 262,625 shares of the company's stock worth $583,000 after acquiring an additional 111,749 shares during the period. Hedge funds and other institutional investors own 9.51% of the company's stock.
About Adagene
(
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Adagene Inc, a clinical stage biotechnology company, engages in the research, development, and production of monoclonal antibody drugs for cancers. The company's product candidates include ADG106, a human ligand-blocking agonistic anti- CD137 IgG4 monoclonal antibodies (mAbs) that is in Phase 1b/2 clinical trials for the treatment advanced solid tumors and non-Hodgkin's lymphoma; ADG126, a masked fully-human anti-CTLA-4 mAb that is in Phase 1 clinical trial for the treatment advanced/metastatic solid tumors; and ADG116, a human ligand-blocking anti-CTLA-4 mAb, which is in Phase 1b/2 clinical development for the treatment of advanced/metastatic solid tumors.
Further Reading
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